According to MyNearWallet CEO George Goshanov, NEAR gives you an edge even if you’re second. Goshanov explains why the altcoin project is advantageous. He also shares his views on the current state and future of the market.
“Full decentralization for altcoin projects, a kind of rosy dream”
cryptocoin.comAs you follow, there is a global belief that the crypto world is moving towards centralization. Regarding this opinion, George Goshanov mentions that full democratization and decentralization will lead to the distribution of responsibility. As such, he points out that there is still a need for competent decision makers to have some control over actual blockchains. Goshanov continues to explain his views in the following direction:
Otherwise we fall into anarchy. In this context, I’m looking forward to seeing how the NEAR ecosystem will evolve. Today, the NEAR Foundation places great emphasis on dividing authority at various levels. Therefore, there is no single entry point to exploit. Unlike other Blockchains, the core team behind the altcoin project is very close to the community. It allows everyone to contribute to the health of the network. Forums surrounding the altcoin project are also bustling amid the recent announcement from Near Digital Collective, which is expected to work the governance of the ecosystem in favor of greater decentralization. It is currently unclear how NEAR Digital Collective will work. However, it is possible for people to voice their opinions. Also, they really listen as they should be on web3.
It is important whether they use this approach as it is only in the early stages of the project. Goshanov says it is possible, but he believes they will strike a balance. In this context, he makes the following statement:
But personally, I hope we will keep the balance. As the NEAR Protocol matures, there will be more governance frameworks. However, it is essential that the administration itself is not centralized. This is the fundamental principle that underpins any decentralized Blockchain.
“Something like war between the two camps will eventually break out”
According to Goshanov, it is important to understand that every new business strives for monopoly when it comes to the projects that make up the ecosystem, and we need to take a closer look at how this ecosystem is leading them to decentralization. He gives an example for this:
The NEAR Foundation gives out grants for two projects in one focus, instantly creating healthy competition for resources, users and opportunities. Thus, it gains a transparent and organically growing market.
According to him, the future of decentralization outside of NEAR is still unclear, given that web3 developers are trying to integrate Blochain more into the daily routine, which is closely linked to centralization. In addition, George says:
In the real world, there are governments and major stakeholders, each with their own interests and goals. It’s hard to say how things will work out. However, it seems to me that something like a war between the two camps will eventually break out.
“Crypto wallets are the glue that unites Web2 and Web3”
Goshanov then addresses the issue of crypto wallets. “Should a user use a guardianship or non-custodial wallet?” He answers the question as follows:
There is no single answer to this question. Because we need to use both types of wallets for different purposes. The only safe way to protect your big savings is to use non-custodial hardware wallets like Ledger or Trezor. The problem is that they are not scalable. That’s why you’d better use more user-friendly and simple storage solutions for quick transfers or crypto coffee ordering.
With his custodial wallets, Goshanov draws an analogy between breathing after diving and breathing with equipment. It says it’s only appropriate as long as you’re not under the radar of regulatory authorities. Therefore, he notes that it is possible to get a bullet in the back at any time. At least, he says it feels that way. He states that non-custodial solutions are like immersion in water. “It’s tough but still safe,” he says.
Goshanov comments on the current competition between trustee and non-custodial wallets. In this context, he highlights the fire-fighting role of marketing. He notes that people who know the basics of using crypto actually benefit from the combined experience. Goshanov continues his explanations as follows:
Imagine that you are a long-time user of NEAR-based products and have the guardianship-free MyNearWallet and the custody alternative NearPay that supports crypto-fiat transactions. It’s that simple: you store most of your assets with MyNearWallet. Then you transfer some of it to NearPay. You load money in crypto or fiat to your debit card and enjoy daily purchases. So instead of choosing the better service, you can kill two poultry with one stone. In this context, custody and non-custodial solutions complement each other.
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